Biotoxtech Co., Ltd. announces an Equity Buyback for KRW 300 million worth of its shares.
February 24, 2016
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Biotoxtech Co., Ltd. (KOSDAQ:A086040) announces a share repurchase program. Under the program, the company will repurchase up to KRW 300 million worth of its shares under the contract with SK Securities Co., Ltd. The purpose of the program is to stabilize the stock price, to enhance the shareholders' value and to prepare for stock option exercise i.e. handing over of the treasury stock. The program will be valid till September 1, 2016.
As of February 24, 2016, the company had 188,727 shares in treasury under the dividend capacity and 8 shares in treasury under other capacities.
Biotoxtech Co., Ltd. is a Korea-based company engaged in the research of non-clinical evaluation business. The Company provides safety evaluation research, efficacy evaluation research and analysis research. Its safety evaluation research business provides general toxicity tests, local toxicity tests, reproductive and development tests, genotoxicity tests, immunotoxicity tests, carcinogenicity tests, safety pharmacology tests, ecotoxicology tests, histopathology tests and hematology tests. Its efficacy evaluation research business provides efficacy evaluation of medical supplies, health supplements and cosmetics. Its analysis research business provides pharmacokinetics (PK) tests and toxicokinetics (TK) tests services, as well as validation and bio analysis services. On March 13, 2013, the Company acquired a 60% stake in its new established subsidiary.